Eagle Plains/Miner River Complete Amalgamation

Calgary Alberta: The board of directors of Eagle Plains Resources Ltd. (EPL:ASE) and Miner River Resources Ltd. (MRG:ASE) announce that the respective shareholders of Eagle Plains and Miner River have unanimously approved the previously announced amalgamation of the two companies under the name "Eagle Plains Resources Ltd.". It is anticipated that the effective date of the amalgamation will be May 12th, 1999.

Once effective, holders of Miner River will receive 1.2 common shares of the amalgamated corporation for each common share of Miner River held. Holders of Eagle Plains common shares will receive one common share in the amalgamated corporation for each common share of Eagle Plains held. The directors of the amalgamated corporation shall be as follows: Tim J. Termuende, Glen J. Diduck, L.W. (Lou) MacEachern and John J. Barclay. The officers of the amalgamated corporation shall be Tim J. Termuende, President and Chief Executive Officer; Glen J. Diduck, Chief Financial Officer and Treasurer; Darren Fach, Corporate Secretary; and Carol T. McDonald, Assistant Secretary. R.W. Termuende will serve on the advisory board.

When amalgamation is implemented, Eagle Plains Resources Ltd. will have a 100% interest in twenty properties in western Canada, half of which target silver, lead and zinc. Six of these base-metal properties are located in southeastern British Columbia and four are situated in the Yukon. The company is also exploring ten gold properties located within the Tintina Gold Belt in central Yukon. Eagle Plains benefits by having three of its advanced base-metal projects optioned to major exploration companies (including Kennecott Canada Exploration Inc. and Rio Algom Exploration Inc.), each of which has indicated that it intends to carry out drilling programs during the 1999 field season.

Signed

Eagle Plains Resources
" Robert W. Termuende"

Miner River Resources
" Tim J. Termuende"

 

For further information on EPL, please contact Mike Labach at 1 866 HUNT ORE (486 8673)
Email: mgl@eagleplains.com or visit our website at http://www.eagleplains.com

 

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